Paul Tudor Joneshttp://www.businessinsider.com/category/paul-tudor-jones
en-usWed, 13 Dec 2017 22:03:48 -0500Wed, 13 Dec 2017 22:03:48 -0500The latest news on Paul Tudor Jones from Business Insiderhttp://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.pngBusiness Insiderhttp://www.businessinsider.com
http://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12Hedge fund titan Paul Tudor Jones once said the 'good news' is that everyone would eventually forget what Harvey Weinstein didhttp://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12
Thu, 07 Dec 2017 10:23:22 -0500Graham Rapier
<p><img src="http://static5.businessinsider.com/image/5a2946633dbef41d008ba9df-2400/rtr3nwdh.jpg" alt="Paul Tudor Jones" data-mce-source="REUTERS/Eduardo Munoz" data-mce-caption="Paul Tudor Jones, founder and chief investment officer of Tudor Investment Corporation, speaks at the Sohn Investment Conference in New York, May 5, 2014." /></p><p></p>
<ul>
<li><strong>Paul Tudor Jones, a hedge fund titan, expressed his support for the disgraced Hollywood producer Harvey Weinstein in an email shortly before Weinstein was ousted from his own company, <a href="https://www.nytimes.com/interactive/2017/12/05/us/harvey-weinstein-complicity.html?_r=0">The New York Times reported Wednesday</a>.</strong></li>
<li><strong>He said the "good news" was that everyone would forget about the accusations against him.</strong></li>
<li><strong>Jones addressed the comments in a memo to employees on Wednesday, according to CNBC.</strong></li>
</ul>
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<p><br />The legendary hedge fund manager Paul Tudor Jones reached out to comfort the <a href="http://www.businessinsider.com/ap-television-academy-expels-harvey-weinstein-for-life-2017-11">now-disgraced Hollywood producer Harvey Weinstein</a> the day before Weinstein was ousted from his own company over accusations of sexual harassment and assault, <a href="https://www.nytimes.com/interactive/2017/12/05/us/harvey-weinstein-complicity.html?_r=0">The New York Times reported this week</a>.</p>
<p>"I love you," Jones reportedly wrote to Weinstein on October 7. "Focus on the future as America loves a great comeback story ... The good news is, this will go away sooner than you think and it will be forgotten!"</p>
<p>The detail was part of a deep dive into the "complicity machine" The Times said Weinstein had engineered in his Hollywood circle to intimidate and silence potential accusers, now thought to number in the dozens.</p>
<p>Jones addressed his comments to Weinstein in a memo to his employees on Wednesday.</p>
<p>"I deeply believe in redemption, but what I know now is that Harvey was a friend I believed too long and defended too long," the 63-year-old said, <a href="https://www.cnbc.com/2017/12/06/paul-tudor-jones-distances-himself-from-harvey-weinstein.html">according to CNBC</a>. "Perhaps in your own life you have faced a similar dilemma &mdash; how to react to a friend who is revealed to be someone other than the person you believed him or her to be."</p>
<p>Jones has also faced accusations of making sexist comments, <a href="https://www.bloomberg.com/news/articles/2017-12-06/paul-tudor-jones-told-weinstein-sex-allegations-would-blow-over">Bloomberg reports</a>. Speaking at the University of Virginia in 2013, he reportedly said that having kids diminished female employees' skill and focus. He later <a href="https://www.bloomberg.com/news/articles/2013-05-23/tudor-s-jones-seeks-to-clarify-remarks-on-female-traders-birth">apologized</a>.</p><p><a href="http://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/bernie-bernard-madoff-life-prison-2017-5">This is what Bernie Madoff's life is like in prison</a></p> http://www.businessinsider.com/tony-robbins-coach-paul-tudor-jones-2017-10Billionaire investor Paul Tudor Jones pays Tony Robbins over $1 million a year and emails him every day — here's what they talk abouthttp://www.businessinsider.com/tony-robbins-coach-paul-tudor-jones-2017-10
Sat, 07 Oct 2017 09:42:00 -0400Richard Feloni
<p><img src="http://static3.businessinsider.com/image/59d67e1e351ccf0b158b87cf-1200/gettyimages-693722470.jpg" alt="tony robbins paul tudor jones" data-mce-source="Paul Zimmerman/Getty Images"></p><p></p>
<ul>
<li><strong>Tony Robbins has coached investor Paul Tudor Jones since 1993.</strong></li>
<li><strong>Jones credits him with helping him regain success in the markets.</strong></li>
<li><strong>They have daily correspondence over email and meet in person quarterly.</strong></li>
</ul>
<hr>
<p><br>For billionaire investor <a href="http://www.businessinsider.com/category/paul-tudor-jones">Paul Tudor Jones</a>, <a href="http://www.businessinsider.com/category/tony-robbins">Tony Robbins</a> is a unique combination of therapist, trainer, and adviser.</p>
<p>Robbins is best known for selling millions of his books and audio tapes and packing stadiums for <a href="http://www.businessinsider.com/tony-robbins-memory-exercise-2017-9">seminars</a> over more than 30 years, but also maintains a small batch of <a href="http://www.businessinsider.com/tony-robbins-advice-to-entrepreneurs-2017-9">personal clients</a> — Jones has been one since 1993. He emails Robbins daily (before email, they used the phone or fax to do the same) and checks in for a 1-2 hour intensive in-person session quarterly. He pays Robbins a $1 million annual fee, along with an undisclosed portion of profit he made that year.</p>
<p>"The amazing thing about Tony is how he can deconstruct what drives certain behaviors and help you develop a plan for action with carefully considered risk and reward propositions," Jones told Business Insider in an email.</p>
<p><a href="http://www.businessinsider.com/category/tony-robbins-fiji">We recently met Robbins at his Fiji resort Namale</a>, where he was hosting the winners of the <a href="http://www.businessinsider.com/best-business-advice-shopify-build-a-bigger-business-2017-9">Shopify Build a Bigger Business competition</a>, and discussed his coaching approach with Jones. You can listen to our interview in the episode of our podcast "<a href="http://www.businessinsider.com/category/success-how-i-did-it">Success! How I Did It</a>" below.</p>
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<p style="text-align: center;"><strong>Listen to the whole episode and subscribe for more Success!</strong></p>
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<p>Pat Riley, one of the most successful coaches in NBA history, introduced Jones to Robbins, and Jones remembers Riley telling him that, "Tony would light a fire for me in a thoughtful and understanding way."</p>
<p>Jones gained notoriety in 1987 for correctly predicting the stock market crash that year, but struggled in the following years to maintain his success in the markets. A few months after meeting him, Jones decided he'd give Robbins a shot to see if he could help with his performance.</p>
<p>"<a href="http://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6">I uncovered for Paul Tudor what he was doing at his best</a>," Robbins told Business Insider last year. Robbins has coached everyone from professional athletes like Serena Williams to tech CEOs like Marc Benioff, and takes an approach where he helps them discover what works and doesn't for their performance, without needing to match their level of expertise.</p>
<p>"I got to interview all the people around him," Robbins continued. "I watched films. There were patterns that Paul Tudor was doing when he was at his very best, and he had dropped them out." A crucial habit that Jones had abandoned, Robbins discovered, was asking himself if he had a chance at a 5:1 return for every dollar invested (meaning he could be wrong four times and still not lose money).</p>
<p>Jones began making money again, and was convinced that Robbins had a big enough role in that turnaround that he kept Robbins on as his coach. He also introduced Robbins to high-profile investor friends like Ray Dalio to be interviewed for Robbins' 2014 personal finance book, "<a href="https://www.amazon.com/MONEY-Master-Game-Financial-Freedom/dp/1476757860">Money: Master the Game</a>."</p>
<p>At Fiji, Robbins offered some insight into what Jones' daily email updates look like, saying, "he sends me a checklist of what we measure, everything from his NAV [<a href="http://www.investopedia.com/terms/n/nav.asp">net asset value</a>] to his <a href="http://www.investopedia.com/terms/p/portfolio-weight.asp">[portfolio] weights</a>, what's happening in his body, to his focus, to ratios of risk-reward that we're measuring, and then he does a narrative for me."</p>
<p>It's about getting into Jones' mind for that day, and then comparing that mindset to a similar scenario during that history they've shared.</p>
<p>Robbins continued: "And so I see that and then I know the pattern. If we need to do something right away, I can make a phone call or send him an email or fly there in person when it's necessary. But at this point, it doesn't take that much because it's a refined machine."</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/tony-robbins-life-coach-success-2017-9" >How Tony Robbins came from a broken household to build a $6 billion empire and coach business legends like Marc Benioff and Paul Tudor Jones</a></strong></p>
<p><a href="http://www.businessinsider.com/tony-robbins-coach-paul-tudor-jones-2017-10#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/kava-tea-drink-root-fiji-make-you-feel-high-effects-2017-9">We tried kava — the national drink of Fiji that gets people high</a></p> http://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8A partner at Paul Tudor Jones' hedge fund is setting off on his ownhttp://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8
Sat, 12 Aug 2017 06:20:00 -0400Business Insider
<p><img style="float:right;" src="http://static1.businessinsider.com/image/598a2d2b4fc3c057008b6d8e-678/screen shot 2017-08-08 at 52844 pm.png" alt="Dario Villani" data-mce-source="LinkedIn" data-mce-caption="Dario Villani." /></p><p>A partner at Paul Tudor Jones' Tudor Investment Corp. is planning to leave to start his own venture.</p>
<p>Dario Villani is planning to launch a New York-based business, people familiar with the matter told Business Insider.</p>
<p>Exactly what it will be remains unclear.&nbsp;<span>Villani and a spokesman for Tudor declined to comment.</span></p>
<p>Villani has worked at Tudor since May 2015, and has been a partner and global head of portfolio strategy and&nbsp;risk<span>&nbsp;at Tudor since October of last year, according to a <a href="https://www.linkedin.com/in/dario-villani-a58334a9/">LinkedIn page</a>. </span>&nbsp;</p>
<p>He previously held roles at hedge fund firms Hutchin Hill and BlueCrest Capital, as well as Deutsche Bank, according to his profile.</p>
<p><span></span><span>Tudor's flagship BVI Global fund is down 2.3% this year through July 21, according to HSBC data. The firm's Discretionary Macro fund is down 3.2% through July 21, according to HSBC.</span></p>
<p><span>Tudor has been losing assets for some time.</span></p>
<p><span>Connecticut-based Tudor managed $10 billion at the start of the year, a 22% drop from a year prior, according to the HFI Billion Dollar Club ranking. <a href="https://www.bloomberg.com/news/articles/2017-08-01/paul-tudor-jones-clients-said-to-pull-15-from-main-hedge-fund">Bloomberg reported</a> earlier this month that the firm had been hit with redemptions and that firmwide assets now stand at around $8 billion.</span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/davidson-kempners-2017-hedge-fund-performance-2017-8" >Davidson Kempner, one of the largest hedge fund firms in the world, is betting big on mega-deals</a></strong></p>
<p><a href="http://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/economist-jim-rickards-bitcoin-versus-gold-price-manipulation-2017-12">Economist Jim Rickards on gold versus bitcoin — intrinsic value is meaningless for both but the bitcoin prices aren't real</a></p> http://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8A partner at Paul Tudor Jones' hedge fund is setting off on his ownhttp://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8
Wed, 09 Aug 2017 01:49:00 -0400Rachael Levy
<p><img style="float:right;" src="http://static1.businessinsider.com/image/598a2d2b4fc3c057008b6d8e-678/screen shot 2017-08-08 at 52844 pm.png" alt="Dario Villani" data-mce-source="LinkedIn" data-mce-caption="Dario Villani." /></p><p>A partner at Paul Tudor Jones' Tudor Investment Corp. is planning to leave to start his own venture.</p>
<p>Dario Villani is planning to launch a New York-based business, people familiar with the matter told Business Insider.</p>
<p>Exactly what it will be remains unclear.&nbsp;<span>Villani and a spokesman for Tudor declined to comment.</span></p>
<p>Villani has worked at Tudor since May 2015, and has been a partner and global head of portfolio strategy and&nbsp;risk<span>&nbsp;at Tudor since October of last year, according to a <a href="https://www.linkedin.com/in/dario-villani-a58334a9/">LinkedIn page</a>. </span>&nbsp;</p>
<p>He previously held roles at hedge fund firms Hutchin Hill and BlueCrest Capital, as well as Deutsche Bank, according to his profile.</p>
<p><span></span><span>Tudor's flagship BVI Global fund is down 2.3% this year through July 21, according to HSBC data. The firm's Discretionary Macro fund is down 3.2% through July 21, according to HSBC.</span></p>
<p><span>Tudor has been losing assets for some time.</span></p>
<p><span>Connecticut-based Tudor managed $10 billion at the start of the year, a 22% drop from a year prior, according to the HFI Billion Dollar Club ranking. <a href="https://www.bloomberg.com/news/articles/2017-08-01/paul-tudor-jones-clients-said-to-pull-15-from-main-hedge-fund">Bloomberg reported</a> earlier this month that the firm had been hit with redemptions and that firmwide assets now stand at around $8 billion.</span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/davidson-kempners-2017-hedge-fund-performance-2017-8" >Davidson Kempner, one of the largest hedge fund firms in the world, is betting big on mega-deals</a></strong></p>
<p><a href="http://www.businessinsider.com/tudors-dario-villani-hedge-fund-launch-2017-8#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/ico-initial-coin-offering-overvalued-crypto-hedge-fund-ari-paul-blocktower-2017-12">The CIO of a crypto hedge fund reveals why you should be cautious of the ICO bubble</a></p> http://www.businessinsider.com/tony-robbins-simple-advice-finance-paul-tudor-jones-ray-dalio-emergency-fund-diversify-2017-3Tony Robbins shares the simple financial advice he learned from working with the smartest financial people in the worldhttp://www.businessinsider.com/tony-robbins-simple-advice-finance-paul-tudor-jones-ray-dalio-emergency-fund-diversify-2017-3
Mon, 13 Mar 2017 05:47:00 -0400Joe Avella and Richard Feloni
<p>"<a href="https://www.amazon.com/Unshakable-Your-Financial-Freedom-Playbook/dp/1501164589/ref=as_li_ss_tl?ie=UTF8&amp;qid=1488493118&amp;sr=8-1&amp;keywords=unshakeable+tony+robbins&amp;linkCode=ll1&amp;tag=biip_071116_lesser-known-watch-brands-20&amp;linkId=181f24dd88001692756e3ee4e18646fa">Unshakeable</a>" author Tony Robbins shares advice he learned from interviewing the top minds in finance. Following is a transcript of the video.</p>
<p><em>I've got access to the smartest financial people in the world. What if I interviewed 50 of the smartest people, found out whether the average investor can still win or not?</em></p>
<p><em>I've been coaching a man named Paul Tudor Jones, one of the top 10 financial traders in the world for 24 years now. He's extraordinary and I've learned so much from him.</em></p>
<p><em>How do I set myself up to win, even when I'm losing? First thing you got to do at the basic level is you need to have three months, six months for some people, 12 months for some people — you want to build to have enough emergency cash that if you lost your job, if you lost everything, if you went through a medical emergency, and so forth, you don't have to worry that you're going to fall off.</em></p>
<p><em>So the first thing is really start to build that emergency fund for people, I think, [it] is one of the most important things. It's a simple thing. It's not an easy thing because it's hard to get yourself to just put money aside that's not growing, but you need some that's available to you for those situations.</em></p>
<p><em>Ray Dalio, who's the most successful hedge fund manager in the world, he's returned more money to investors than anybody in history. When I met him and talked with him he taught me something simple, he said, "Tony, people tend to invest in what they heard about, what they read about, or what their family did."</em></p>
<p><em>But the problem is every single asset class that you love will have a day where it will it drops 50-70% in a day. If it's later in life you have no time to make up for it so you have to diversify.</em></p><p><a href="http://www.businessinsider.com/tony-robbins-simple-advice-finance-paul-tudor-jones-ray-dalio-emergency-fund-diversify-2017-3#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/paul-tudor-jones-we-have-to-think-outside-the-box-2016-8PAUL TUDOR JONES: 'We have to think outside the box'http://www.businessinsider.com/paul-tudor-jones-we-have-to-think-outside-the-box-2016-8
Sat, 27 Aug 2016 09:01:00 -0400Ben Carlson
<p><img style="float:right;" src="http://static6.businessinsider.com/image/54aac51cecad04805234200e-1342/screen shot 2015-01-05 at 12.07.59 pm.png" alt="Paul Tudor Jones" data-mce-source="Reuters/ Eduardo Munoz" /></p><p>There are a lot of brilliant investors out there, but very few brilliant investors who are also brilliant communicators. It&rsquo;s rare to find someone in the investment industry who has the&nbsp;ability to explain complex topics about the markets and investing in a way that a wide audience can understand. That&rsquo;s why investors are constantly quoting their favorite lines from Warren Buffett, Benjamin Graham, Charlie Munger, Peter Lynch and Howard Marks.</p>
<p>These guys are legends, but they also have the uncanny ability to simplify their message.</p>
<p>If those five (and I&rsquo;m sure I missed a ton of people on this list) are the go-to quote machines for long-term investors, the following group is not too far behind for traders: Jesse Livermore, Stanley Druckenmiller, George Soros and Paul Tudor Jones.</p>
<p>The last name is on the list because he&rsquo;s compounded his fund&rsquo;s capital at something like 20% per year since the early 1980s. He basically&nbsp;called the 1987 crash ahead of time. He manages billions of dollars and is worth billions of dollars.</p>
<p>But according to a recent story in Bloomberg Tudor Investment Corp.&nbsp;has hit a bit of a rough patch, so he&rsquo;s been forced to make some changes in both the firm and strategy:</p>
<p><em>&ldquo;We have to think outside the box,&rdquo; Jones, 61, said in the letter obtained by Bloomberg. &ldquo;I firmly believe the changes we have made put us in a position to be successful even in this desultory macro environment.&rdquo;</em></p>
<p><em>Jones&rsquo;s moves are central to his shakeup of his hedge fund, which this week cut&nbsp;15 percent of its staff and earlier lowered some fees to stem an exodus of investors, who&rsquo;ve pulled $2.1 billion this year. His remaining managers will be given more money to run, according to the letter. Some have been paired with scientists and mathematicians to bring new analytical rigor to their trading as part of a quantitative revamp of the firm.</em></p>
<p>There are a number of different ways you could interpret what&rsquo;s going on here and in hedge fund land in general. Here are a few thoughts:</p>
<p><strong>1. The low fruit has been picked. </strong>The 1960s through the 1990s&nbsp;were something of a Wild West period in the hedge fund world. There were very few funds and they weren&rsquo;t managing nearly as much capital as they are today. This gave the pioneers in the industry a huge first mover advantage.</p>
<p>In the book <em><a href="https://www.amazon.com/gp/product/0143119419/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0143119419&amp;linkCode=as2&amp;tag=aweaofcomsen-20&amp;linkId=29751cca7c60115dd898183eef83e0b4" target="_blank" data-amzn-asin="0143119419">More Money Than God</a>&nbsp;</em>another<em>&nbsp;</em>legendary hedge fund manager,&nbsp;<a href="http://awealthofcommonsense.com/2014/09/never-going-easy/" target="_blank">Michael Steinhardt</a>,&nbsp;very bluntly discusses some of his firm&rsquo;s actions on block trading and providing liquidity during that time:</p>
<p><em>&ldquo;I was being told things that other accounts were not being told,&rdquo; Steinhardt says, describing the mechanics of his collusion with brokers. &ldquo;I got information I shouldn&rsquo;t have. It created a lot of opportunities for us. Were they risky? Yes. Was I willing to do it? Yes. Were they talked about much? Not particularly.</em></p>
<p>The regulations back then were extremely lax, so it was much easier for these funds to take advantage of holes in the system. Those types of opportunities aren&rsquo;t as easily available in today&rsquo;s markets.</p>
<p><strong>2. Macro is hard. </strong>Investors are constantly learning more and more about which&nbsp;strategies and systems work or have worked in the past and are finding ways to turn those ideas into models and quantitative investment programs.</p>
<p>So much of it has been systematized that it&rsquo;s becoming increasingly difficult for portfolio managers to separate themselves from the algorithms. Hedge fund managers in the early days weren&rsquo;t competing with the computers like they are now.&nbsp;It&rsquo;s easy to complain about the Fed, but the truth is that many of the signals these funds used in the past just don&rsquo;t work as well anymore or are much more crowded than they once were.</p>
<p><strong>3. Low risk free rates are hurting hedge fund performance.&nbsp;</strong>Many investors fail to understand how important the return on cash can be for hedge funds. In essence, hedge funds are something of a &ldquo;cash-plus&rdquo; stream of returns because of the way they invest. When risk free rates were 5-6%, this was like an additional premium the best hedge funds could layer any alpha on top of. With rates at 1-2% and alpha harder to come by than ever, it&rsquo;s no wonder that average hedge fund returns have been abysmal.</p>
<p><strong>4.&nbsp;There are legitimate red flags. </strong>If you are an institutional asset allocator and you looked at the following it would likely give you pause as an investor (or at least it should):</p>
<p><em>Tudor is more than doubling its gross Sharpe ratio target, a measure of&nbsp;risk-adjusted returns, for its main fund to about 2.25, according to the letter. And it increased the target for its portfolio&rsquo;s daily price swings, or volatility, to 45 basis points.</em></p>
<p>His fund has been underperforming so by all appearances he is upping the risk in the strategy in an effort to earn a higher return. The problem is that these things don&rsquo;t always work out in a 1:1 ratio. You&rsquo;re not guaranteed anything on the return side of the equation simply because you accept more risk in your portfolio or fund. Changing the risk embedded in his strategy should at the very least cause his investors to ask themselves some hard questions.</p>
<p>Do these changes make sense in the current market environment? Does he get a pass for being a name brand investor? Have other investors caught up with him and his style of investing? Is it harder for &nbsp;this fund to earn alpha, especially with a much larger capital base?</p>
<p>There are no easy answers to these questions. This is one of the reasons it&rsquo;s so difficult to develop long-term relationships with star portfolio managers. Not only is it almost impossible to gain access to their funds, but once you do it&rsquo;s very hard to know when to walk away and when to stick around. It&rsquo;s possible these changes will make a difference, but it&rsquo;s also possible that he&rsquo;s making a mistake and pressing too much&nbsp;in hopes of a turnaround that never materializes.</p>
<p><strong>5. He&rsquo;s due for a period of outperformance.&nbsp;</strong>It&rsquo;s also possible that he was due for a period of underperformance that will some day reverse:</p>
<p><em>Tudor, which Jones founded in 1980, hasn&rsquo;t in recent years made the kind of profits it produced during its heyday. Its main fund, Tudor BVI Global, produced an average annual gain of about 26 percent from 1987 through 2007, which dropped to about 5.3 percent from 2008 through last year. The fund is down 2.3 percent this year, according to the letter. It lost 4.8 percent in 2008.</em></p>
<p>Maybe he&rsquo;s due for a comeback. It&rsquo;s tough to say one way or another.</p>
<p>Far too many investors have been waiting for the past 10 years or so for a more &ldquo;normalized environment.&rdquo; They assume that things will magically return to the way they once were in the past. The problem with this line of thinking is that markets and investors are constantly changing and evolving over time. There&rsquo;s no such thing as a normalized environment.</p>
<p>This is probably more true in the hedge fund industry&nbsp;than anywhere as competition for both alpha and performance fees has never been higher. As the roughly 11,000 funds in this space continue to jockey for position, many hedge fund managers are going to have to make changes if they want to stay in business.</p>
<p>For those playing the long game that means they may have to be more patient &mdash; or find more patient investors. For those playing the short game that means they may have to be more flexible.</p>
<p>The nature of the markets is such that sometimes even the legends run into trouble. I&rsquo;ll be interested to see if the old guard such as Tudor Jones and company can make the changes necessary to get their groove back.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/this-is-where-investors-have-been-parking-their-money-so-far-in-2016-2016-8" >This is where investors have been parking their money so far in 2016</a></strong></p>
<p><a href="http://www.businessinsider.com/paul-tudor-jones-we-have-to-think-outside-the-box-2016-8#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/why-boeing-747-front-hump-2016-11">Here's why Boeing 747s have a giant hump in the front</a></p> http://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6TONY ROBBINS: Here’s the secret to investing like hedge fund billionaire Paul Tudor Joneshttp://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6
Mon, 11 Jul 2016 10:02:00 -0400Joe Avella and Richard Feloni
<div><div>
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<p class="embed-spacer"><a href="http://www.amazon.com/gp/product/1476757801/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1476757801&amp;linkCode=as2&amp;tag=bivideo-20&amp;linkId=VKCKM2EZVSUUTWZR" target="_blank">Author</a><span style="line-height: 1.5em;"> and newly-named member of the </span><a href="http://www.worth.com/power100/" target="_blank">Worth Power 100 List</a><span style="line-height: 1.5em;">,</span><span style="line-height: 1.5em;"> Tony Robbins recently visited Business Insider to talk about personal finance, </span><a href="http://www.businessinsider.com/tony-robbins-how-to-defeat-donald-trump-2015-10" target="_blank">politics</a><span style="line-height: 1.5em;"> and </span><a href="http://www.businessinsider.com/tony-robbins-success-keys-2015-10" target="_blank">strategy</a><span style="line-height: 1.5em;">. </span></p>
<p><span>He's spent several years coaching Paul Tudor Jones. In this video he shares Tudor Jones' strategy for making money.</span></p>
<p><em>Produced by <a href="http://www.businessinsider.com/author/joe-avella">Joe Avella</a><br></em></p>
<p><strong>Follow BI Video: </strong><a href="https://twitter.com/BI_Video" target="_blank">On Twitter</a></p>
<p><span> </span></p><p><a href="http://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/paul-tudor-jones-faces-1-billion-in-redemptions-2016-4Investors have yanked out more than $1 billion from Paul Tudor Jones' hedge fundhttp://www.businessinsider.com/paul-tudor-jones-faces-1-billion-in-redemptions-2016-4
Thu, 14 Apr 2016 16:47:15 -0400Bob Bryan
<p><img style="float:right;" src="http://static4.businessinsider.com/image/570ffde29105841d008bccd1-3111-2333/rtr3nwdf.jpg" alt="paul tudor jones" data-mce-source="Eduardo Munoz/Reuters" data-mce-caption="Jones, founder and chief investment officer of Tudor Investment Corporation" /></p><p>Billionaire hedge funder Paul Tudor Jones is facing&nbsp;nearly $1 billion in investor redemptions.</p>
<p>Jones' main fund, BVI Global, was down&nbsp;2.8% in the first quarter, which is driving the investor flight,&nbsp;<a href="http://www.bloomberg.com/news/articles/2016-04-14/tudor-investors-ask-to-pull-more-than-1-billion-from-firm">according to Bloomberg</a>.</p>
<p>This exodus represents a large chunk of the firm's $13 billion in total assets.&nbsp;</p>
<p>BVI Global is a macroeconomic trend-focused fund, betting on large scale developments around the world.&nbsp;<a href="http://www.valuewalk.com/2016/04/activist-funds-top-in-march-nelson-peltz-leads-ackman-lags/">According to eVestment</a>, global macro hedge funds similar to BVI Global have taken it on the chin lately: The style&nbsp;as a group was&nbsp;down -0.43% in March, one of only two&nbsp;hedge fund strategies out of 14 tracked by eVestment to fall during that month.</p>
<p>The <a href="http://www.bloomberg.com/news/articles/2016-04-14/tudor-investors-ask-to-pull-more-than-1-billion-from-firm">report from&nbsp;Bloomberg</a>&nbsp;said that many of the redemptions are coming from large money managers that have been with the firm for a long time. Additionally, the report said most of these redemptions have come just in the last few weeks, citing people close to the matter.</p>
<p>These moves come after a few years of lackluster returns, after Jones established a strong track record by beating the market by double digits in 2008 and 2009.&nbsp;The hedge funder&nbsp;underperformed the S&amp;P 500&nbsp;in 2014 with just a 3.5% return in 2014 and barely beat the benchmark&nbsp;stock index last year with a 1.4% return.</p>
<p>In addition to the redemptions, <a href="http://www.bloomberg.com/news/articles/2016-04-14/tudor-investors-ask-to-pull-more-than-1-billion-from-firm">Bloomberg reported</a> that Richard Puma, the firm's deputy chief operating officer, is leaving the company after three&nbsp;years. It was his second stint with Jones after working for him from 1995 to 2003.</p>
<p><a href="http://www.bloomberg.com/news/articles/2016-04-14/tudor-investors-ask-to-pull-more-than-1-billion-from-firm"><strong>Read the full story over at Bloomberg&nbsp;<span class="s1">&raquo;</span></strong></a></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/etfs-crushing-asset-managers-2016-4" >The people that manage your money are getting crushed by the hottest investment product out there</a></strong></p>
<p><a href="http://www.businessinsider.com/paul-tudor-jones-faces-1-billion-in-redemptions-2016-4#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/clock-innovation-that-change-timekeeping-2016-4">6 incredible clocks that are changing the way we look at time</a></p> http://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3The 42 richest hedge fund managers in the worldhttp://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3
Sun, 06 Mar 2016 10:21:00 -0500Julia La Roche and Portia Crowe
<p><img style="float:right;" src="http://static3.businessinsider.com/image/56d7119f6e97c622048bae69-1136-852/ray dalio.jpg" alt="ray dalio" data-mce-source="Ruben Sprich/Reuters" data-mce-caption="Bridgewater Associates founder Ray Dalio speaks at the 2016 World Economic Forum in Davos, Switzerland." /></p><p>Forbes' magazine has released its annual list of the world's <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20funds">billionaires.</a></p>
<p>This year, we've counted 42 names in the hedge fund industry. A few of these titans have retired in recent years.</p>
<p>Overall, 2015 was disappointing year in terms of hedge fund performance. The average hedge fund fell 3.64% in 2015, <a href="https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login_bd">according to Hedge Fund Research</a><span>.</span></p>
<p>Even some of the billionaire fund managers had losing years, including Bill Ackman (Pershing Square), David Einhorn (Greenlight Capital), Larry Robbins (Glenview Capital), and John Paulson (Paulson &amp; Co.), causing them to fall in the ranks.</p>
<p>That said, some of these titans have seen their wealth increase thanks to strong performance, including Steve Cohen (Point72 Asset Management), Ken Griffin (Citadel), and George Soros (Soros Fund Management).</p>
<p><span style="line-height: 1.5em;">We've included a round up of the richest fund managers in the world.</span></p><h3>Rob Citrone</h3>
<img src="http://static5.businessinsider.com/image/54be4fcdeab8ea9a3602128e-400-300/rob-citrone.jpg" alt="" />
<p><p><strong>Rank:</strong> 1694</p>
<p><strong>Net-worth:</strong>&nbsp;$1 billion</p>
<p><strong>Age:</strong>&nbsp;51</p>
<p><strong>Fund:</strong>&nbsp;Discovery Capital</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><h3>Seth Klarman</h3>
<img src="http://static2.businessinsider.com/image/54be4f906da811617362170f-400-300/seth-klarman.jpg" alt="" />
<p><p><strong>Rank:</strong>&nbsp;1367</p>
<p><strong>Net-worth:</strong> $1.3 billion</p>
<p><strong>Age:</strong>&nbsp;58</p>
<p><strong>Fund:</strong> Baupost Group</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><h3>Thomas Sandell</h3>
<img src="http://static6.businessinsider.com/image/54be512669beddba4fd27824-400-300/thomas-sandell.jpg" alt="" />
<p><p><strong>Rank:</strong> 1367</p>
<p><strong>Net-worth:</strong>&nbsp;$1.3 billion</p>
<p><strong>Age:</strong> 55</p>
<p><strong>Fund:</strong> Sandell Asset Management</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><a href="http://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3#/#david-einhorn-4">See the rest of the story at Business Insider</a> http://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3The 42 richest hedge fund managers in the worldhttp://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3
Wed, 02 Mar 2016 11:19:08 -0500Julia La Roche and Portia Crowe
<p><img style="float:right;" src="http://static3.businessinsider.com/image/56d7119f6e97c622048bae69-1136-852/ray dalio.jpg" alt="ray dalio" data-mce-source="Ruben Sprich/Reuters" data-mce-caption="Bridgewater Associates founder Ray Dalio speaks at the 2016 World Economic Forum in Davos, Switzerland." /></p><p>Forbes' magazine has just released its annual list of the world's <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20funds">billionaires.</a></p>
<p>This year, we've counted 42 names in the hedge fund industry. A few of these titans have retired in recent years.</p>
<p>Overall, 2015 was a disappointing year in terms of hedge fund performance. The average fund fell 3.64% in 2015,&nbsp;<a href="https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login_bd">according to Hedge Fund Research</a><span>.</span></p>
<p>Even some of the billionaire managers had losing years, including Bill Ackman (Pershing Square), David Einhorn (Greenlight Capital), Larry Robbins (Glenview Capital), and John Paulson (Paulson &amp; Co.), causing them to fall in the ranks.</p>
<p>That said, some of these titans have seen their wealth increase thanks to strong performances, including Steve Cohen (Point72 Asset Management), Ken Griffin (Citadel), and George Soros (Soros Fund Management).</p>
<p><span style="line-height: 1.5em;">We've included a round up of the richest fund managers in the world:</span></p><h3>Rob Citrone</h3>
<img src="http://static5.businessinsider.com/image/54be4fcdeab8ea9a3602128e-400-300/rob-citrone.jpg" alt="" />
<p><p><strong>Rank:</strong> 1,694</p>
<p><strong>Net-worth:</strong>&nbsp;$1 billion</p>
<p><strong>Age:</strong>&nbsp;51</p>
<p><strong>Fund:</strong>&nbsp;Discovery Capital</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><h3>Seth Klarman</h3>
<img src="http://static2.businessinsider.com/image/54be4f906da811617362170f-400-300/seth-klarman.jpg" alt="" />
<p><p><strong>Rank:</strong>&nbsp;1,367</p>
<p><strong>Net-worth:</strong> $1.3 billion</p>
<p><strong>Age:</strong>&nbsp;58</p>
<p><strong>Fund:</strong> Baupost Group</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><h3>Thomas Sandell</h3>
<img src="http://static6.businessinsider.com/image/54be512669beddba4fd27824-400-300/thomas-sandell.jpg" alt="" />
<p><p><strong>Rank:</strong> 1,367</p>
<p><strong>Net-worth:</strong>&nbsp;$1.3 billion</p>
<p><strong>Age:</strong> 55</p>
<p><strong>Fund:</strong> Sandell Asset Management</p>
<p><em><span class="message_content">Source: <a href="http://www.forbes.com/billionaires/list/#version:static_search:hedge%20fund">Forbes</a></span></em></p></p>
<br/><br/><a href="http://www.businessinsider.com/richest-hedge-fund-managers-in-the-world-2016-3#/#david-einhorn-4">See the rest of the story at Business Insider</a> http://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12Hedge fund billionaire Paul Tudor Jones has the most epic Christmas lights display at his homehttp://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12
Fri, 25 Dec 2015 09:18:00 -0500Julia La Roche
<p>In keeping with holiday tradition, hedge fund billionaire <a href="http://www.businessinsider.com/blackboard/paul-tudor-jones" class="hidden_link">Paul Tudor Jones</a>, the founder of Tudor Investment Corporation, has put up another elaborate Christmas lights display at his Belle Haven estate in Greenwich, Connecticut.</p>
<p>Every year, Jones' spectacular light show features thousands of lights synchronized to music for the public to enjoy from the comfort of their cars.</p>
<p>Jones' daughter Caroline, a professional singer/songwriter, just released her <a href="https://www.youtube.com/watch?v=Mzr32USPvnM&amp;app=desktop">version of "O Come All Ye Faithful"</a> earlier this month. It looks and sounds like the display this year is synchronized to her rendition of the classic Christmas carol.</p>
<p>Instagram users have posted photos and videos from the display.</p>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_X6QT9LiDp/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#christmaslights #ohholylights #paultudorjones #paultudorjoneslightshow #greenwich #onepercent #beautiful #mansion</a>
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<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by Jeanine R (@j9rac) on Dec 16, 2015 at 4:56pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-17T00:56:25+00:00">Dec 16, 2015 at 4:56pm PST</time></p>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_FyPsHv14d/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">The kind of rich when you have to hire private security to direct traffic around your decorated mansion #bellehaven #christmaslights #youcanseeitfromspace</a>
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<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by @kategus17 on Dec 9, 2015 at 4:00pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-10T00:00:06+00:00">Dec 9, 2015 at 4:00pm PST</time></p>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_nj4rnRh18/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">THIS is how you do Christmas lights. Thank you Paul Tudor Jones for a magical display #christmas #lights #merrychristmas #paultudorjones #magical #bestlights</a>
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<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by Vicolo Mio (@vicolomio) on Dec 22, 2015 at 6:48pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-23T02:48:48+00:00">Dec 22, 2015 at 6:48pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/-7vneWJcLk/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">Christmas light show #besttimeoftheyear #christmas #paultudorjones #awesome</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by Eddie E (@quarterback__11) on Dec 5, 2015 at 6:24pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-06T02:24:44+00:00">Dec 5, 2015 at 6:24pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_N91cmwBn8/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#bellehaven #greenwich #merrychristmas</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by The Perfect Provenance (@theperfectprovenance) on Dec 12, 2015 at 8:15pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-13T04:15:18+00:00">Dec 12, 2015 at 8:15pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_N9vNMQBn2/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">Just your everyday neighbor light show #bellehaven #greenwich</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by The Perfect Provenance (@theperfectprovenance) on Dec 12, 2015 at 8:14pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-13T04:14:27+00:00">Dec 12, 2015 at 8:14pm PST</time></p>
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<h1></h1>
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<div style="padding:8px;">
<div style=" background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;">
<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_X_-m3ulBW/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#gorgeouslightshow #bellehaven #growingupgreenwich</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by Dawn Bonizio (@dbonizio) on Dec 16, 2015 at 5:46pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-17T01:46:26+00:00">Dec 16, 2015 at 5:46pm PST</time></p>
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<p class="embed-spacer">Here's Caroline Jones' "O Come All Ye Faithful":</p>
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<iframe width="560" height="315" src="//www.youtube.com/embed/Mzr32USPvnM" frameborder="0" allowfullscreen></iframe>
</div></p><p><a href="http://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/bernie-bernard-madoff-life-prison-2017-5">This is what Bernie Madoff's life is like in prison</a></p> http://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12Hedge fund billionaire Paul Tudor Jones has the most epic Christmas lights display at his homehttp://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12
Wed, 23 Dec 2015 10:57:04 -0500Julia La Roche
<p>In keeping with holiday tradition, hedge fund billionaire <a href="http://www.businessinsider.com/blackboard/paul-tudor-jones" class="hidden_link">Paul Tudor Jones</a>, the founder of Tudor Investment Corporation, has put up another elaborate Christmas lights display at his Belle Haven estate in Greenwich, Connecticut.</p>
<p>Every year, Jones' spectacular light show features thousands of lights synchronized to music for the public to enjoy from the comfort of their cars.</p>
<p>Jones' daughter Caroline, a professional singer/songwriter, just released her <a href="https://www.youtube.com/watch?v=Mzr32USPvnM&amp;app=desktop">version of "O Come All Ye Faithful"</a> earlier this month. It looks and sounds like the display this year is synchronized to her rendition of the classic Christmas carol.</p>
<p>Instagram users have posted photos and videos from the display.</p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_X6QT9LiDp/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#christmaslights #ohholylights #paultudorjones #paultudorjoneslightshow #greenwich #onepercent #beautiful #mansion</a>
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<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by Jeanine R (@j9rac) on Dec 16, 2015 at 4:56pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-17T00:56:25+00:00">Dec 16, 2015 at 4:56pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_FyPsHv14d/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">The kind of rich when you have to hire private security to direct traffic around your decorated mansion #bellehaven #christmaslights #youcanseeitfromspace</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by @kategus17 on Dec 9, 2015 at 4:00pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-10T00:00:06+00:00">Dec 9, 2015 at 4:00pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_nj4rnRh18/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">THIS is how you do Christmas lights. Thank you Paul Tudor Jones for a magical display #christmas #lights #merrychristmas #paultudorjones #magical #bestlights</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A video posted by Vicolo Mio (@vicolomio) on Dec 22, 2015 at 6:48pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-23T02:48:48+00:00">Dec 22, 2015 at 6:48pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
</div>
<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/-7vneWJcLk/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">Christmas light show #besttimeoftheyear #christmas #paultudorjones #awesome</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by Eddie E (@quarterback__11) on Dec 5, 2015 at 6:24pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-06T02:24:44+00:00">Dec 5, 2015 at 6:24pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_N91cmwBn8/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#bellehaven #greenwich #merrychristmas</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by The Perfect Provenance (@theperfectprovenance) on Dec 12, 2015 at 8:15pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-13T04:15:18+00:00">Dec 12, 2015 at 8:15pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_N9vNMQBn2/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">Just your everyday neighbor light show #bellehaven #greenwich</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by The Perfect Provenance (@theperfectprovenance) on Dec 12, 2015 at 8:14pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-13T04:14:27+00:00">Dec 12, 2015 at 8:14pm PST</time></p>
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<div style=" background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"></div>
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<p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://instagram.com/p/_X_-m3ulBW/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">#gorgeouslightshow #bellehaven #growingupgreenwich</a>
</p>
<p style="font-family:Arial,sans-serif;color:#c9c8cd; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A photo posted by Dawn Bonizio (@dbonizio) on Dec 16, 2015 at 5:46pm PST on
<time style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;" datetime="2015-12-17T01:46:26+00:00">Dec 16, 2015 at 5:46pm PST</time></p>
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<p class="embed-spacer">Here's Caroline Jones' "O Come All Ye Faithful":</p>
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<iframe width="560" height="315" src="//www.youtube.com/embed/Mzr32USPvnM" frameborder="0" allowfullscreen></iframe>
</div></p><p><a href="http://www.businessinsider.com/paul-tudor-jones-christmas-lights-display-2015-12#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/warren-buffett-modest-home-bought-31500-looks-2017-6">Warren Buffett lives in a modest house that's worth .001% of his total wealth — here's what it looks like</a></p> http://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11An elite hedge fund conference was held in New York this week — here are all the trade ideashttp://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11
Sat, 21 Nov 2015 11:47:00 -0500Julia La Roche
<p><img style="float:right;" src="http://static3.businessinsider.com/image/564c8ef3112314aa008b6110-1191-893/screen shot 2015-01-05 at 12.07.59 pm.png" alt="Paul Tudor Jones" data-mce-source="Reuters/ Eduardo Munoz" /></p><p>The Robin Hood Investors Conference, one of the most elite hedge fund gatherings, was held this week in New York City.</p>
<p>The annual charity conference brings together some of the biggest names in the hedge fund industry to share their best trade ideas.</p>
<p>Tickets to the event cost $7,500. The proceeds go toward the Robin Hood Foundation, an organization dedicated to fighting poverty.</p>
<p>The conference is closed to the media.</p>
<p>An attendee was kind enough to share notes on some of the big bets being made by hedge fund titans.</p>
<p>Here's a rundown:</p>
<ul>
<li><strong>David Einhorn (Greenlight Capital):</strong> long Consol Energy (CNX) and Arkema (AKE)</li>
<li><strong>Scott Ferguson (Sachem Head Capital):</strong> long Akorn (AKRX)</li>
<li><strong>Zach Schreiber (PointState Capital):</strong> long Finmeccanica (FNC)</li>
<li><strong>Mitchell Blutt (Consonance Capital):</strong> long Mallinckrodt (MNK)</li>
<li><strong>Dan Dreyfus (3G Capital):</strong> long Canadian National Resources (CNQ)</li>
<li><strong>Samantha Greenberg (Paulson &amp; Co.):</strong> long Charter Communications (CHTR)</li>
<li><strong>Larry Robbins (Glenview Capital):</strong> long HCA Holding (HCA), Monsanto (MON), and FMC Corp. (FMC)</li>
<li><strong>Philippe Laffont (Coatue Management):</strong> long Activision Blizzard (ATVI), Electronic Arts (EA), and Tencent Holdings</li>
<li><strong>Whitney Tilson (Kase Capital):</strong> long Spirit Airlines (SAVE) and short Wayfair (W)</li>
<li><strong>David Tepper (Appaloosa Management):</strong> short the Chinese yuan</li>
<li><strong>Dan Loeb (Third Point LLC):</strong> long Allergan (AGN)</li>
<li><strong>T. Boone Pickens (BP Capital):</strong> $70 West Texas Intermediate oil by June</li>
<li><strong>Izzy Englander (Millennium):</strong> long Nikkei 225</li>
<li><strong> Oleg Nodelman (EcoR1):</strong> long FibroGen (FGEN) and Retrophin (RTRX)</li>
<li><strong> Anthony Bozza (Lakewood):</strong> short Universal Insurance Holdings (UVE)</li>
<li><strong>Jamie Mendola (Pacific Grove Capital):</strong> long Tempur Sealy International (TPX) and Mattel (MAT)</li>
<li><strong>Neal Nathani (Totem Point):</strong> long Sony (SNE) and Woolworths</li>
<li><strong> Will Snellings (Marianas Fund):</strong> short 12-month CNH forwards and long BBA Aviation (London)</li>
<li><strong> Lee Ainslie (Maverick Capital):</strong> long CommScope Holding Company (COMM)</li>
<li><strong>Paul Tudor Jones (Tudor Investment):</strong> Federal Reserve won't hike until well into 1Q2016 and negative commodities until February 2016, and then they will rally into 2016YE.</li>
</ul>
<p>That's a wrap!</p><p><a href="http://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/cryptocurrency-value-explained-by-crypto-hedge-fund-cio-ari-paul-2017-11">The CIO of a crypto hedge fund explains the value in cryptocurrency — and why the market will explode over the next 2 years</a></p> http://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11An elite hedge fund conference was held in New York this week — here are all the trade ideashttp://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11
Wed, 18 Nov 2015 09:54:32 -0500Julia La Roche
<p><img style="float:right;" src="http://static3.businessinsider.com/image/564c8ef3112314aa008b6110-1191-893/screen shot 2015-01-05 at 12.07.59 pm.png" alt="Paul Tudor Jones" data-mce-source="Reuters/ Eduardo Munoz" /></p><p>The Robin Hood Investors Conference, one of the most elite hedge fund gatherings, was held this week in New York City.</p>
<p>The annual charity conference brings together some of the biggest names in the hedge fund industry to share their best trade ideas.</p>
<p>Tickets to the event cost $7,500. The proceeds go toward the Robin Hood Foundation, an organization dedicated to fighting poverty.</p>
<p>The conference is closed to the media.</p>
<p>An attendee was kind enough to share notes on some of the big bets being made by hedge fund titans.</p>
<p>Here's a rundown:</p>
<ul>
<li><strong>David Einhorn (Greenlight Capital):</strong> long Consol Energy (CNX) and Arkema (AKE)</li>
<li><strong>Scott Ferguson (Sachem Head Capital):</strong> long Akorn (AKRX)</li>
<li><strong>Zach Schreiber (PointState Capital):</strong> long Finmeccanica (FNC)</li>
<li><strong>Mitchell Blutt (Consonance Capital):</strong> long Mallinckrodt (MNK)</li>
<li><strong>Dan Dreyfus (3G Capital):</strong> long Canadian National Resources (CNQ)</li>
<li><strong>Samantha Greenberg (Paulson &amp; Co.):</strong> long Charter Communications (CHTR)</li>
<li><strong>Larry Robbins (Glenview Capital):</strong> long HCA Holding (HCA), Monsanto (MON), and FMC Corp. (FMC)</li>
<li><strong>Philippe Laffont (Coatue Management):</strong> long Activision Blizzard (ATVI), Electronic Arts (EA), and Tencent Holdings</li>
<li><strong>Whitney Tilson (Kase Capital):</strong> long Spirit Airlines (SAVE) and short Wayfair (W)</li>
<li><strong>David Tepper (Appaloosa Management):</strong> short the Chinese yuan</li>
<li><strong>Dan Loeb (Third Point LLC):</strong> long Allergan (AGN)</li>
<li><strong>T. Boone Pickens (BP Capital):</strong> $70 West Texas Intermediate oil by June</li>
<li><strong>Izzy Englander (Millennium):</strong> long Nikkei 225</li>
<li><strong> Oleg Nodelman (EcoR1):</strong> long FibroGen (FGEN) and Retrophin (RTRX)</li>
<li><strong> Anthony Bozza (Lakewood):</strong> short Universal Insurance Holdings (UVE)</li>
<li><strong>Jamie Mendola (Pacific Grove Capital):</strong> long Tempur Sealy International (TPX) and Mattel (MAT)</li>
<li><strong>Neal Nathani (Totem Point):</strong> long Sony (SNE) and Woolworths</li>
<li><strong> Will Snellings (Marianas Fund):</strong> short 12-month CNH forwards and long BBA Aviation (London)</li>
<li><strong> Lee Ainslie (Maverick Capital):</strong> long CommScope Holding Company (COMM)</li>
<li><strong>Paul Tudor Jones (Tudor Investment):</strong> Federal Reserve won't hike until well into 1Q2016 and negative commodities until February 2016, and then they will rally into 2016YE.</li>
</ul>
<p>That's a wrap!</p><p><a href="http://www.businessinsider.com/robin-hood-conference-investment-picks-2015-11#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/warren-buffett-modest-home-bought-31500-looks-2017-6">Warren Buffett lives in a modest house that's worth .001% of his total wealth — here's what it looks like</a></p> http://www.businessinsider.com/paul-tudor-jones-advice-on-writing-better-2015-10This is how to get your memo read by billionaire trader Paul Tudor Joneshttp://www.businessinsider.com/paul-tudor-jones-advice-on-writing-better-2015-10
Sun, 25 Oct 2015 06:00:00 -0400Ben Moshinsky
<p><img style="float:right;" src="http://static2.businessinsider.com/image/562ca8a1dd0895a93a8b45ec-3108-2331/rtr3nwdf.jpg" alt="Paul Tudor Jones" data-mce-source="REUTERS/Eduardo Munoz" data-mce-caption="Paul Tudor Jones, founder and chief investment officer of Tudor Investment Corporation, speaks at the Sohn Investment Conference in New York, May 5, 2014." /></p><p>It's difficult&nbsp;to get the attention of billionaire hedge fund manager Paul Tudor Jones, and harder to keep it.</p>
<p>But Tudor Jones, who set up $14 billion (&pound;9.1 billion) fund Tudor Investment in 1980, <a href="http://www.bloomberg.com/news/articles/2015-10-23/billionaire-paul-tudor-jones-to-staff-learn-to-write-or-i-ll-rip-up-your-memo">had some advice for people that wanted to try.</a></p>
<p>Taking a&nbsp;journalism course is the best way to improve writing quality, Tudor said in an interview with Bloomberg, and it's also the only way to stop him binning your memos.</p>
<p>"You learn how to write in a hierarchical way," said Jones.</p>
<p>"Today, in business, time is money," said Jones. "When you've got hundreds of decisions to make every week, dozens every day, being able to see, think and understand what the issue is in the first couple of paragraphs is actually paramount to being efficient at what you do."</p>
<p>Staff must make sure they take the right course however.</p>
<p>"Every time I get a memo from someone written magazine style,&nbsp;I literally tear it up, throw it away and make them take an online newspaper writing course," he said.&nbsp;</p><p><a href="http://www.businessinsider.com/paul-tudor-jones-advice-on-writing-better-2015-10#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/excel-what-if-analysis-data-tables-test-values-2015-9">This is the Excel trick that will change everything about how you work with data</a></p> http://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10PAUL TUDOR JONES: The Fed is doing something it has never done beforehttp://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10
Sun, 11 Oct 2015 13:01:00 -0400Julia La Roche
<p><img style="float:right;" src="http://static1.businessinsider.com/image/5612804ebd86ef11008bf1eb-921-691/screen%20shot%202015-10-05%20at%209.50.08%20am.png" alt="Paul Tudor Jones" data-mce-source="Bloomberg TV"></p><p>Closely followed hedge fund manager Paul Tudor Jones II <a href="http://www.bloomberg.com/news/videos/2015-10-05/fed-managing-balance-sheet-for-tail-risks-jones">said on Bloomberg TV's new show "Bloomberg Go"</a> that the Fed was in uncharted territory.</p>
<p>Current global growth conditions are typically associated with the Fed lowering interest rates, according to Jones, who said that had historically been good for the stock market.</p>
<p>"And yet now we have a central bank that I think for the first time is actually — is managing towards the credit side of the equation, as opposed to the economic side of the equation."</p>
<p><span>He explained: "</span><span>And by that I mean they're looking at the balance sheet. They're uncomfortable with the size of it. That's why they want to get rates away from zero. I think they're concerned about the expanding global debt-to-GDP. </span></p>
<p><span>"And I think they're trying to probably insert back into the equation the fact that interest rates can rise and that people need to manage their balance sheets accordingly, particularly the federal government."<u></u></span></p>
<p><span>When asked whether that pointed to a bear market, Jones said: "<span>I think it points to a choppier market."</span></span></p>
<p>Jones said <a href="http://www.bloomberg.com/news/videos/2015-10-05/why-low-interest-rates-hurts-savers-helps-borrowers">earlier in the interview</a> that he thought the Fed missed its opportunity to raise interest rates last spring and that it was probably "trying to catch up."</p>
<p><div>
<script src="//cdn.gotraffic.net/projector/latest/bplayer.js">BPlayer(null, {"id":"MTVbYXqmTimBRWpM~dNPHA","htmlChildId":"bbg-video-player-MTVbYXqmTimBRWpM~dNPHA","serverUrl":"http://www.bloomberg.com/api/embed","idType":"BMMR","autoplay":false,"log_debug":false,"ui_controls_popout":false,"wmode":"opaque","share_metadata":{"canonical_url":"http://bloom.bg/1iZkTZF"},"use_share_overlay":true,"video_autoplay_on_page":false,"use_js_ads":true,"ad_code_prefix":"","ad_tag_gpt_preroll":true,"ad_tag_gpt_midroll":true,"ad_tag_sz_preroll":"1x7","ad_tag_sz_midroll":"1x7","ad_tag_sz_overlay":"1x7","ad_network_id_preroll":"5262","ad_network_id_midroll":"5262","ad_network_id_overlay":"5262","ads_vast_timeout":10000,"ads_playback_timeout":10000,"use_comscore":true,"comscore_ns_site":"bloomberg","comscore_page_level_tags":{"bb_brand":"bbiz","bss_cont_play":0,"bb_region":"US"},"use_chartbeat":true,"chartbeat_uid":"15087","chartbeat_domain":"bloomberg.com","vertical":"business","ad_tag_overlay":"business/videooverlay","use_parsely":true,"source":"BBIZweb","module_conviva_insights":"enabled","conviva_account":"c3.Bloomberg","zone":"video","ad_tag_cust_params_preroll":"","width":640,"height":360,"ad_tag":"","ad_tag_midroll":"","offsite_embed":true});</script>
</div></p><p><a href="http://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/incredible-things-steve-cohen-buys-2015-7">Here are some incredible toys hedge fund boss Steve Cohen has bought with his billions</a></p> http://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10PAUL TUDOR JONES: The Fed is doing something it has never done beforehttp://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10
Mon, 05 Oct 2015 11:18:12 -0400Julia La Roche
<p><img style="float:right;" src="http://static1.businessinsider.com/image/5612804ebd86ef11008bf1eb-921-691/screen%20shot%202015-10-05%20at%209.50.08%20am.png" alt="Paul Tudor Jones" data-mce-source="Bloomberg TV"></p><p>Closely followed hedge fund manager Paul Tudor Jones II <a href="http://www.bloomberg.com/news/videos/2015-10-05/fed-managing-balance-sheet-for-tail-risks-jones">said on Bloomberg TV's new show "Bloomberg Go"</a> that the Fed was in uncharted territory.</p>
<p>Current global growth conditions are typically associated with the Fed lowering interest rates, according to Jones, who said that had historically been good for the stock market.</p>
<p>"And yet now we have a central bank that I think for the first time is actually — is managing towards the credit side of the equation, as opposed to the economic side of the equation."</p>
<p><span>He explained: "</span><span>And by that I mean they're looking at the balance sheet. They're uncomfortable with the size of it. That's why they want to get rates away from zero. I think they're concerned about the expanding global debt-to-GDP. </span></p>
<p><span>"And I think they're trying to probably insert back into the equation the fact that interest rates can rise and that people need to manage their balance sheets accordingly, particularly the federal government."<u></u></span></p>
<p><span>When asked whether that pointed to a bear market, Jones said: "<span>I think it points to a choppier market."</span></span></p>
<p>Jones said <a href="http://www.bloomberg.com/news/videos/2015-10-05/why-low-interest-rates-hurts-savers-helps-borrowers">earlier in the interview</a> that he thought the Fed missed its opportunity to raise interest rates last spring and that it was probably "trying to catch up."</p>
<p><div>
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</div></p><p><a href="http://www.businessinsider.com/paul-tudor-jones-on-fed-2015-10#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/incredible-things-steve-cohen-buys-2015-7">Here are some incredible toys hedge fund boss Steve Cohen has bought with his billions</a></p> http://www.businessinsider.com/two-things-to-remember-about-investing-2015-7A hedge fund billionaire says there are only 2 things you need to remember about investinghttp://www.businessinsider.com/two-things-to-remember-about-investing-2015-7
Mon, 27 Jul 2015 13:13:00 -0400Joshua Brown
<p><img style="float:right;" src="http://static1.businessinsider.com/image/54aac53c6bb3f77d76eaa5c2-1191-893/paul-tudor-jones-9.png" alt="Paul Tudor Jones" data-mce-source="Reuters/ Eduardo Munoz" /></p><p>There's more than one way to skin a cat. The stuff Paul Tudor Jones has made his billions based on does not appear in any traditional investing textbook. Ben Graham would read his stuff and roll over in his grave.</p>
<p>For example, the idea of being on the right side of a predominant trend &mdash; bring a concept like this into the Church of Value Investing and you may see the holy water begin to boil. And yet, it can work if applied correctly.</p>
<p><a href="http://thereformedbroker.com/2015/07/27/ptj-on-being-on-the-right-side-of-the-trend/">Here&rsquo;s PTJ on his own chosen trend indicator</a>, the 200-day moving average, via Tren Griffin at 25iq:</p>
<p style="padding-left: 60px;">One principle for sure would be: get out of anything that falls below the 200-day moving average.</p>
<p style="padding-left: 60px;">I teach an undergrad class at the University of Virginia, and I tell my students, "I'm going to save you from going to business school. Here, you're getting a $100k class, and I'm going to give it to you in two thoughts, okay? You don't need to go to business school; you've only got to remember two things."</p>
<p style="padding-left: 60px;">The first is, you always want to be with whatever the predominant trend is. My metric for everything I look at is the 200-day moving average of closing prices. I've seen too many things go to zero, stocks and commodities. The whole trick in investing is: "How do I keep from losing everything?" If you use the 200-day moving average rule, then you get out. You play defense, and you get out.</p>
<p>Josh here &mdash; We run a tactical model in-house that is designed to respect trend and omits the kind of touchy-feely pseudo-intellectualism that often accompanies market or economic prognostication.</p>
<p>Part of this is <a href="http://thereformedbroker.com/2015/06/30/qotd-there-is-no-why/">because there is no Why</a>. Or, more reasonably, if there is a Why, it becomes clear to the majority of people only after the fact. Trends are confirmed or violated as a result of the process by which markets attempt to figure out the Why, in real-time. When the crowd feels confident that it's got the What and Why figured out, a trend solidifies. When this confidence is shaken &mdash; in either direction &mdash; a trend becomes invalidated and a new trend is born. Even if that new trend is trendlessness &mdash; what we're going through so far in 2015, for example.</p>
<p>The kind of trading that Tudor does would be wholly inappropriate for wealth-management clients, but it is remarkable how universal this idea of respecting trend can be &mdash; and how versatile when applied to lower-turnover strategies.</p>
<p>Incidentally, after eight months of consolidation, the US stock market's primary trend is now flat. This can be a confusing time for people without a plan, people who are looking to headlines for guidance or who may be hoping to make it up as they go along. Doing so with one's own money is one thing, but with other people's money?</p><p><a href="http://www.businessinsider.com/two-things-to-remember-about-investing-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/why-boeing-747-front-hump-2016-11">Here's why Boeing 747s have a giant hump in the front</a></p> http://www.businessinsider.com/castletons-william-reed-is-shaking-up-commodities-2015-7This soldier-turned-commodities trader backed by Paul Tudor Jones is buying up all the goods from the bankshttp://www.businessinsider.com/castletons-william-reed-is-shaking-up-commodities-2015-7
Wed, 15 Jul 2015 14:35:58 -0400Lucinda Shen
<p><img style="float:right;" src="http://static3.businessinsider.com/image/55a6a3152acae72d5f8b64f1-400-300/bill reed.jpg" alt="Bill Reed" data-mce-source="LinkedIn/Bill Reed" data-link="https://www.linkedin.com/pub/bill-reed/1/84b/6" /></p><p>As Wall Street banks scale down proprietary trading in order to comply with new regulations, new people are moving onto the other side of those sales.</p>
<p>One of those people is a former special operations soldier turned commodities trader, William Reed, and he's got the backing of some pretty important names in the industry, <a href="http://www.bloomberg.com/news/articles/2015-07-14/soldier-turned-math-wonk-shaking-up-world-of-commodity-trading">reports Bloomberg's Javier Blas and Andy Hoffman</a>.</p>
<p>Reed's Castleton Commodities International has started making some big commodities purchases, according to the report&nbsp;&ndash; including Morgan Stanley's oil trading business in May.</p>
<p>Major Castleton shareholders include Paul Tudor Jones and Highbrige Capital's Glenn Dubin.</p>
<p>The company has also bought Texas power plants, coal terminals in Kentucky, natural-gas wells in Colorado, and oil storage tanks in Shanghai, according to Bloomberg.</p>
<p>Reed reportedly led a takeover at Castleton a couple of years ago, together with Dubin, who is now chairman.</p>
<p>He began his career at Enron in Houston in the 1990s, but not before serving on a special ops helicopter crew in the army and spending time in Kuwait during the Gulf War, according to the report.</p>
<p>And it appears he has big plans for the company to expand, going forward: he's already reportedly poached managers from competitors like Mercuria and JPMorgan.</p>
<p><span></span><strong><a href="http://www.bloomberg.com/news/articles/2015-07-14/soldier-turned-math-wonk-shaking-up-world-of-commodity-trading">Read the full story over at Bloomberg &raquo;</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/commodity-prices-to-keep-falling-in-2015-2015-1" >Commodity prices to continue falling in 2015</a></strong></p>
<p><a href="http://www.businessinsider.com/castletons-william-reed-is-shaking-up-commodities-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/facts-about-greek-economy-bailout-euro-crisis-2015-6">6 mind-blowing facts about Greece's economy</a></p> http://www.businessinsider.com/paul-tudor-jones-launchpad-trading-2015-6Paul Tudor Jones wants to train 5 young macro traders this summerhttp://www.businessinsider.com/paul-tudor-jones-launchpad-trading-2015-6
Mon, 22 Jun 2015 10:14:00 -0400Lucinda Shen
<p class="p1"><span style="line-height: 1.5em;"><img style="float:right;" src="http://static4.businessinsider.com/image/558816ef6da8116455adf0f8-1200-924/paul-tudor-jones-2.jpg" alt="Paul Tudor Jones" border="0">Five young macro traders will get the chance to train with Paul Tudor Jones this summer through a new venture Jones started called LaunchPad Trading,<span>&nbsp;</span><a href="http://www.bloomberg.com/news/articles/2015-06-22/traders-wanted-tudor-to-train-macro-managers-as-banks-retreat">Bloomberg reported</a><span>.&nbsp;</span></span></p>
<p class="p1"><span class="s1">Jones, who founded one of the most distinguished macro hedge funds, $14 billion Tudor Investment Corp., hopes to eventually increase the number of traders to 20.</span></p>
<p class="p1"><span class="s1">"There are fewer options open to traders who want to learn trading skills and manage capital at the start of their career," Jones said in a statement.&nbsp;</span></p>
<p class="p1"><span class="s1">That's because, due to heightened regulation, banks are being forced to shut down their propriety trading desks, where young traders used to learn all the tricks of the trade before moving on to manage clients' money. </span></p>
<p class="p1"><span class="s1"><span class="s1">"We want to provide an environment where they can get that experience," he said.</span><br></span></p>
<p class="p1"><span class="s1">The venture is seeking candidates with two to six years of macro trading experience, who are&nbsp;</span><span style="font-size: 15px; line-height: 1.5em;">able to "explain how they generate ideas, construct their portfolios, and manage risk," Bloomberg reported.</span></p>
<p class="p1"><span class="s1">The lucky traders accepted will work in New York, Chicago or London trading offices — but first, must pass through a rigorous application process: Nancy Andrews, LaunchPad’s CEO, will hand-pick applicants and pass on prospects to a five-member committee that will shave off more of the applicant pool.</span></p>
<p><span class="s1"></span><span style="line-height: 1.5em;"></span></p>
<p><span class="s1">The joint venture is funded in part by Jones and algorithmic trading-specialized firm, HC Technologies. HC Technologies will oversee the traders and provide risk management.</span></p>
<p><strong><a href="http://www.bloomberg.com/news/articles/2015-06-22/traders-wanted-tudor-to-train-macro-managers-as-banks-retreat"><span class="s1">For more, head to Bloomberg»</span></a></strong></p><p><a href="http://www.businessinsider.com/paul-tudor-jones-launchpad-trading-2015-6#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/facts-about-chinas-economy-2015-5">11 facts that show how different China is from the rest of the world</a></p>